KLCI set to rise higher, immediate support at 1,750

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KUALA LUMPUR (July 25): The FBM KLCI looks set to rise today in line with the firmer overnight close at most global markets, with immediate support seen at 1,750.

Stocks on major world markets hit their highest in more than a month on Tuesday, on good earnings reports from U.S. companies and after China promised fiscal action to support the world's second-largest economy, according to Reuters.

MSCI's global stock index gained 0.58 percent, it said.

The Dow Jones Industrial Average rose 197.65 points, or 0.79 percent, to 25,241.94, the S&P 500 gained 13.42 points, or 0.48 percent, to 2,820.4 and the Nasdaq Composite dropped 1.11 points, or 0.01 percent, to 7,840.77, said Reuters.

Based on corporate announcements and news flow yesterday, companies that may be in focus Wednesday may include the following: Nextgreen Global Bhd, Scomi Group Bhd, Kwantas Corp Bhd, SCH Group Bhd, Dagang NeXchange Bhd, WCT Holdings Bhd, JAKS Resources Bhd, AirAsia Group Bhd, Malaysia Airports Holdings Bhd, I-Bhd and Caring Pharmacy Group Bhd.